Labroy Marine starts 2007 with $1.06 billion in orders

Singapore's Labroy Marine Ltd. says its 2007 order book sits at $1.06 billion. Deliveries include four jackup rigs, scheduled through to 2009.

Offshore staff

SINGAPORE -- Singapore's Labroy Marine Ltd. says its 2007 order book sits at $1.06 billion. Deliveries include four jackup rigs, scheduled through to 2009.

Work on the first two of the four jackups has started at the new Batam shipyard, with first steel strike scheduled for the other two for May/June this year, Labroy says.

In March last year, Labroy signed the first jackup contracts to build two units worth $310.7 million for Standard Drilling, followed by two additional jackup contracts, worth $317.24 million, in October.

The rest of the orders are for oil-field related vessels, including AHTS.

Labroy is in the midst of investing the second $9.81 million of the $16.35 million budget in a new shipyard on Indonesia's Batam Island.

Labroy Managing Director Tan Boy Tee says the new yard is being readied to handle up to 12 jackup projects. Facilities and space are ready for nine jackups, he says.

3/1/2007

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